Grocery Tech
ICSC Is Where Shopping Center Owners and Tenants Meet ICSC is the premier organization for shopping center owners and real estate professionals, with over 70,000 members in 100 countries, so  Louisiana Commercial Realty is excited to promote New Orleans at their Dallas conference this week and encourage national companies to bring their business to the Big Easy.  Over 2,000 shopping center owners, big and small, attend the Texas oriented conference where property owners and prospective
Covington 18 acres Sold By Louisiana Commercial Realty
It took over two years for Louisiana Commercial Realty to finally sell 18 acres of land in Covington, but there were some big obstacles to overcome including a wetlands determination, city council resistance, lawsuits between family owners and even a breach of an agreement by the city to provide utilities. The $2.2 million sale of the Privette land site at highway 25 and 190 was one of the largest parcels sold that was zoned as
chart showing spending at restaurants
After a two year search for the perfect location, the owner of Sukho Thai restaurant finally found a permanent home, with some help from commercial real estate broker Louisiana Commercial Realty who researched potential locations and provided data on which neighborhoods spent the most money dining out.  Broker Robert Hand with Louisiana Commercial Realty explains how they got started, “We helped Sukho Thai in the past when they wanted to expand to the French Quarter
Mississippi Commercial Realty, a Hattiesburg based commercial real estate brokerage firm, announced the sale of the 60,000-square-foot River Ridge Shopping Center in Picayune, Mississippi, to Rouses Markets, which is the fastest growing family-owned grocer in the United States. The Picayune store will be the first venture for Rouses north of the Gulf Coast in Mississippi and adds to Rouses’ 64 stores stretching from Lafayette to Orange Beach, Alabama. The new Rouses Market store will occupy
percent loans denied by race in 2018
In 2018, African Americans in the New Orleans/Metairie area were denied as much as 85% more loans when compared to white applicants in the same income bracket, according to research by commercial broker Louisiana Commercial Realty. Data from the Consumer Financial Protection Bureau show that 24,571 loans for New Orleans home mortgages were made in 2018 totaling $5.3 billion, but African Americans were denied loans totaling $303 million, or approximately 25% of applications, compared to
Louisiana Commercial Realty | Commercial Real Estate Experts
New Orleanians always ask why we can’t get businesses to move here. The answer is that people don’t move here. Businesses follow population but population comes first. If you want to revitalize areas such as New Orleans East, you need more people to move there and New Orleans businesses to stop leaving. The numbers are backed up by solid research from The Data Center in their publication: New Orleans Population Shifts. People Have Been Leaving
One of the first challenges in opening a business is to find the right location, and the most likely concerns about the location are traffic count, visibility, access and nearby consumer spending patterns. However, one thing that should be high on your to-do list should be to check out the zoning and permitted uses. If you are considering opening a restaurant on Magazine Street, read this first. For example, let’s say you want to open
A few weeks ago the U.S. Bureau of Labor Statistics announced inflation rose 7.9 percent from February 2021 to February 2022, the highest increase since January 1982. That was the month Dwayne Wade, Pete Buttigieg, Kate Middleton and the Commodore 64, an 8-bit home computer, were born, and the year Michael Jackson released “Thriller”, Epcot opened and the movie ET made its debut. Unemployment in 1982 was 9.7 percent, the prime rate was 17 percent
Whether you rent office space, a warehouse, or a retail store, your real estate lease probably has language that ties the rent you pay to the Consumer Price Index. The idea is meant to benefit only the landlord, and helps the rental income retain its purchasing power. The problem is that there is more than one Consumer Price Index and there are different ways to calculate each, so make sure your lease agreement contains language
cap rate table
Money is made in commercial real estate by having the vision to create value where none before existing. Since prices are not transparent like stocks quoted at the bottom of your big screen TV, the person who accurately determines value is the one who comes out ahead. Smart commercial real estate investors use a tool called the Cap Rate, and this article shares the basics and how you can use it to your advantage. Whether you
present value graphic
Present Value in Real Estate Allows You To Compare Cash Flows The best single tool that you can use over and over again in a variety of situations to help you make smarter real estate decisions is a mathematical formula called Present Value. You can use present value in real estate whenever a deposit is made on the property to determine the lost income, or when a buyer agrees to pay money sometime in the
If you own commercial property rentals and need to find a tenant for your vacant space or find a buyer for your property, you will need to know about the strategies and technology that can bring results. The days are long gone when you can just put up a sign and wait for phone calls, especially in smaller markets, where the average time to lease or sell commercial property is often 12 months or longer.
Louisiana Commercial Realty | Commercial Real Estate Experts
  Louisiana Commercial Realty Report: Can Opportunity Arise from Tragedy? Unless you go back to the 1970s, New Orleans East has never been an economic driver for the area. Even though it is the largest land area in New Orleans, if you ranked all the cities over 50,000 population by income per capita, the East would rank not in the bottom 10 percent but in the bottom ten. The closest city comparable to its economy
Louisiana Commercial Realty | Commercial Real Estate Experts
In 2020 it was reported that the vacant-since-Katrina 197 room Warwick Hotel at 1315 Gravier in New Orleans sold for $8 million, but like so many commercial properties in 300 year old New Orleans, it has a fascinating history including the mysterious death of an owner, a $300 million dollar fraud, Israeli organized crime, a grisly double murder, connections to the president of Israel and also a local prominent attorney, not to mention an uncanny
Louisiana Commercial Realty | Commercial Real Estate Experts
Every college business student learns tariffs are bad for economies that believe in free markets and competition and textbooks are filled with charts showing how tariffs suck money out of consumers’ pockets. At first glance, imposing tariffs or quotas seems to be the perfect solution to get American industries back on track to prosperity, but the reality is that tariffs steal money out of consumers’ pockets by increasing prices, stifling creativity, rewarding inefficiencies and destroying
CPI 1914 TO 2020
Whether you rent office space in a Class A office tower, warehouse space to store inventory or retail space for your coffee shop, your lease probably includes terms that are not good for you but that you agreed to anyway. This article exposes three common lease mistakes and explains that unless your lease language is clear on every detail, even small mistakes can be very costly. Leases Tied To The Consumer Price Index The history
The most popular method of appraising commercial real estate is not the most accurate. Usually, we compare past sales of property and apply the price per square foot, but this is valid only if all the properties are homogeneous, which is never the situation. This article examines three common methods of valuing commercial real estate and explains which method is best. Valuing Commercial Property With a Sales Approach The most common method of valuing commercial
Normally when people in New Orleans ask if an area floods they are talking about heavy rains causing water to pool in the streets until the city pumps can suck the water down the drains and into the Mississippi River, but since Hurricane Katrina caused the levees to fail and flood the city with water from Lake Pontchartrain, now we include levee fail risk when we discuss flooding and debate whether the $14 billion dollar
Wildebeests are 4 1/2 feet tall,  weigh over 500 pounds and run 50 miles an hour, but some must die so that the lion can live. The battle for survival is often shown on television, depicting the lion stalking the wildebeest herd, selecting and culling the candidate, creeping in the tall grass and launching like a rocket to catch its meal. We all cheer for the wildebeest to run a little faster or turn just in
Whether you are a landlord or a tenant, lessor or lessee, you need to take action now to keep your business alive in the future and stop events from affecting your lease. First, read your lease. Lock yourself in your bathroom for an hour and don’t come out until you finish reading your lease. Twice. No need to call your attorney. Keep them out of it. Tenants, call your landlord. Landlords, call your tenant. Communicate
  In this article, we examine the permitted uses in various commercial real estate zoning districts for New Orleans including Orleans and Jefferson Parishes. Zoning uses and density can determine feasibility, so gathering this information is imperative before you make an offer. New Orleans commercial real estate development is not a feat undertaken by the weak. The entrepreneurs making things happen today are a special breed. They not only have a vision but an instinct of
volley negotiations are like tennis
Buying, selling and leasing commercial real estate requires lots of different skills, including knowledge of financing, zoning, supply and demand, income statements, and demographics but the most valuable skill is good negotiating. What makes a good negotiator? It is helping all parties involved, who bring to the table different and opposing objectives, agree on the one objective of buying, selling or leasing a property with terms that they may not like but to which they
You can run the numbers to calculate gains or losses from various scenarios, but there is nothing like a visual depiction of risk/reward tradeoffs, especially when it comes to risk in commercial real estate. The hard part is transitioning numbers to something you can see that displays probability and the risk involved with adopting various strategies that may or may not result in a gain. Making decisions in commercial real estate often involves more than
New Orleans commercial real estate developments don’t happen without government help which ranges from New Market Tax Credits, Community Block Grants, Tax Exempt Financing, to Digital Media Tax Credit, Bonus Depreciation, and Tax Abatements. For example, one of the largest developments in New Orleans was a $70 million, 550-unit apartment and retail complex near the Superdome. Here is how the project was financed: New Market Tax Credits provide $4.9 million and Enterprise Zone Rebates provide
Since New Orleans is almost 300 years old, there is plenty of history behind almost every commercial real estate property, and 426 Canal Street is a prime example of this New Orleans Commercial Real Estate with such a fascinating history that locals refer to it by name rather than the address. This property has been known by three names: the Friedricks Building in the late 1800’s, and the Sanlin Building, or the Morris Cigali Building more recently. The
$130 million New Orleans East Hospital
New Orleans is attracting a new industry of media companies, including movie companies and software developers, mostly due to superior tax incentives offered to businesses to relocate to the Big Easy. For example, there is a 25% tax credit for digital media expenditures. That is a dollar-for-dollar tax credit. There is a 50% bonus depreciation and tax exempt financing at a 2% interest rate. There is a tax credit for live performances up to 25%
If you rent space for your business, your lease probably has a clause that makes your rent increase as inflation increases, so be ready to automatically pay a lot more in rent. This article explains how inflation in your lease language is calculated and how to know ahead of time how your rent could increase. The Terms To Know Your lease should have a detailed explanation of how your rent increases with inflation, and lease
OK, Boomer. If you advertise your business name to 845,000 people, would you think one or two people might call you? Not especially, and this article explores why. If you own a business, you have to leverage social media to promote your business and let people know how you can help them; however, not all businesses are helped by advertising on social media. Recently, Louisiana Commerical Realty spent $11,000 to test an advertising campaign using
Louisiana Commercial Realty | Commercial Real Estate Experts
Presented by The Small Business Development Center Reach Customers Online with Google (Live Webinar) If you own a small business and need to reach customers, here is a webinar that can help you. Learn how customers find your business online and how to promote your business using Search Engine Optimization and Smart Campaigns in Google Ads. Topics include: Improving your website’s visibility in Google’s organic search results, on all devices. Creating a free Google My
Louisiana Commercial Realty | Commercial Real Estate Experts
January 2021 commercial real estate prices for the New Orleans/Metairie MSA  increased dramatically for the retail and multi-family lease sectors and shopping center sale sector, but prices declined in office and industrial leasing and office, retail and industrial sale sectors. Demand and supply affected each sector differently which creates opportunities for commercial real estate buyers, sellers, landlords and tenants. Over the last 6 months, over 500,000 square feet has been eliminated from the market for sale
award winning chef andrea
Chef Andrea Apuzzo He has prepared culinary dishes for Queen Elizabeth, Princess Ann, President Carter, Senator Ted Kennedy, Clint Eastwood, Omar Shariff, Sophia Loren, Senator Jack Kemp, Lee Meriwether and Tommy Lasorda. He is Chef Andrea Apuzzo, owner of Andrea’s restaurant and voted One of America’s Finest Restaurants & Outstanding Chefs by Chefs in America. But he is also a real estate investor. Recently Chef Andrea hired Louisiana Commercial Realty to manage leasing for his
Citybusiness magazine recently reached out to Louisiana Commercial Realty broker Robert Hand, to gain insight into a new type of upscale office development in the heart of once was one of the roughest neighborhoods in New Orleans. The high-tech, avant garde development, called “The Stables” transformed three small buildings that were historic horse carriage barns into state-of-the art office space for architects, realtors and interior designers. The development hopes to appeal to a new type
The commercial real estate market in the New Orleans/Metairie MSA has held steady throughout Covid, with prices increasing 5% in the industrial sector, 30% in the shopping center sector and unchanged in the office sector, and decreasing 6% in the retail sector. Over the last 6 months, over 1 million square feet has been taken off the market for lease and an additional 400,000 square feet is now for sale. This article examines the current
Unemployment Chart
The latest unemployment numbers show, compared to one year ago, 32% of 389 city metropolitan areas actually had lower unemployment rates, meaning a higher percent of workers had jobs, leaving 65% with higher unemployment and 3% unchanged compared to 12 months ago. Louisiana Ranks Worst In Unemployment for Its Size The average unemployment rate was 4.5%, and 226 metropolitan cities had rates below average, 150 cities had rates above average and 13 cities equaled the
louisiana positive covid19 cases
map of louisiana positive covid19 cases Louisiana Coronavirus Update 3,315 positive cases with 137 deaths due to COVID19. 3.2 million: Number of adults in Louisiana. 3,315 or 1 in 1000: Have the virus. If you go to Home Depot today, you are around approximately 150 people. Per trip. 927 or 1 out of 3: In the hospital that have the virus. 336 or 1 out of 3: On ventilator that are in the hospital. 137
power plant converted to apartments
The Tax Cuts and Jobs Act of 2017 substantially reduced corporate taxes, from 35 percent to 21 percent. Some commentators and practitioners have voiced concerns about how the new tax law will affect demand for Low Income Housing Tax Credits (LIHTC), America’s primary mechanism for producing new housing. According to Dawn Luke, chief operating officer with Invest Atlanta, the lowering of the corporate tax rate continues to present challenges to the market in terms of
Researching construction activity across 382 metropolitan markets in the United States, data show new office-construction projects were double office renovations from 2003 to 2008, but then everything changed when financing dried up for new construction projects due to the mortgage industry meltdown and collapse of financial institutions. The surprise is that this 2008 trend still affects the office market today. Chart 1 shows the composition of office starts, comparing new office construction starts to office
Snapshot of Industrial Market Prices 12.31.2019 At year end, there are 284 industrial properties totaling 6.3 million square feet for sale and for lease, comprised of 3.3 million square feet in 193 (67%) properties for lease at $5.38 per square foot and 2.9 million square feet in 91 properties (33%) for sale averaging $45.69 PSF. The average property has been on the market 238 days.  At the beginning of the year, there was one less
cities with high unemployment
Chart: Yellow dots show cities with highest jobless rate for September 2019 Of the 51 metropolitan areas with a 2010 Census population of 1 million or more, New Orleans-Metairie had the highest jobless rate in the US at 4.2%, much higher than the 3.3% national unemployment rate which is even lower than the 3.6% rate measured a year earlier. While September unemployment rates compared to 12 months ago were lower in 254 of the 389
Tariffs are bad. Tariffs are passed along to consumers in the form of higher prices which takes money from consumers and gives it to the government. Government spends the money eventually, but it is always an inefficient spender. It used to be that the Republican Party was against making government bigger and always wanted individuals to have control over their money, but things have changed. And this change is bad for business. SIOR The SIOR
The Latest Unemployment Rate of 3.5% Is Only Enjoyed By Half of the States Not all states are enjoying the benefits of September’s 3.5% national average unemployment rate; in fact, 50% of the states have worse unemployment than the average and about 25% have much worse. Only 3 states enjoyed an increase in nonfarm payroll employment: Kentucky, Idaho and Hawaii.   14 States Have The Worse Unemployment Rate 14 States Have The Worse Unemployment Rate
WWL reporter Caresse Jackman just completed a stunning 4 part series called “The Forgotten East: a view into the past, present and future of the largest neighborhood in New Orleans”, and at the end of the last segment, WWL invited Louisiana Commercial Realty to join civic leaders and city councilwoman Cyndi Nguyen for a roundtable heart-to-heart discussion of how to rebuild New Orleans East. Louisiana Commercial Realty president, Robert Hand,  had just completed
New Orleans & Metairie MSA Prices Per Sector Office Market Office Market Overview-New Orleans & Metairie Lease prices for office space in the New Orleans/Metairie Metropolitan Statistical Area averaged $17.78 per square foot, and sale prices averaged $137 per square foot. There are 1,045 office properties for sale or lease and, of those, 895 are for lease and 150 for sale. Last month 32 office spaces were leased, which is above the average of 25 monthly
tariff chart shows loss to consumers
Every college business student learns tariffs are bad for economies that believe in free markets and competition. Every economics textbook charts out how tariffs suck money out of consumers’ pockets. Every MBA class learns it and they even teach it at Wharton. So if there is any government leader out there who attended Wharton and is promoting tariffs, someone needs to verify your degree. At first glance, imposing tariffs or quotas appear to be the
Last week it was reported that the vacant-since-Katrina 197 room Warwick Hotel at 1315 Gravier in New Orleans sold for $8 million, but like so many commercial properties in 300 year old New Orleans, it has a fascinating history including the mysterious death of an owner, a $300 million dollar fraud, Israeli organized crime, a grisly double murder, connections to the president of Israel and also a local prominent attorney, not to mention an uncanny ability to
Can Opportunity Arise From Tragedy? Unless you go back to the 1970’s, New Orleans East has never been an economic driver for the area. Even though it is the largest land area in New Orleans, if you ranked all the cities over 50,000 population by income per capita, the East would rank not in the bottom 10 percent but in the bottom ten. The closest city comparable to its economy is Flint, Michigan. There is
By: Andrew Valenti, Reporter May 17, 2019 Specialty clinics and medical office buildings dot the landscape along Houma Boulevard near East Jefferson General Hospital in Metairie. And along Interstate 10 around the Galleria office building, LCMC Health Ridgelake Health Center, Crescent City Surgical Care and Galleria Medical have opened within the last three years. But while there has been construction related to multifamily housing, extended-stay hotels and retail near the $1 billion University Medical Center
The best single tool that you can use over and over again in a variety of situations to help you make smarter real estate decisions is a mathematical formula called Present Value. You can use it whenever a deposit is made on property to determine the lost income, or when a buyer agrees to pay money sometime in the future to a seller, or in terminating a lease prematurely, or in determining how rent payments might apply
Entergy’s abandoned Market Street power plant Since New Orleans is almost 300 years old, you’d expect some interesting stories behind its more prominent buildings, and the vacant Market Street power plant near the New Orleans Convention Center does not disappoint. Built in 1927, the 5 story coal-fired power plant probably contains asbestos and who knows what else detrimental to life, but it sits on 7 acres just a Mardi Gras bead’s throw from the driving force
Over the last 12 months ending December 2018, inflation, that secretive economic thief that steals your purchasing power, increased 2.2%, continuing to drive the wage price spiral like grandma through a slow school zone, keeping pay raises low and interest rates at the lowest levels in decades. The fat cat donor to this economic bipartisan party has been a decline in energy prices, offsetting the rise in food items, housing and medical care. Not Everybody
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